Battle for Caremark — End Game?

The CVS shareholders vote on the company’s merger proposal tomorrow and the Caremark shareholders vote on Friday. Last month, three major proxy advisory services advised Caremark shareholders against the CVS bid. This time around, after CVS has sweetened the deal, two firms Glass Lewis & Co. and Proxy Governance continue to oppose the CVS deal while Institutional Shareholder Investors recommends an aye vote, according to Reuters.

Forbes reports that “Last week, both CVS and Express Scripts had outstanding cash and stock offers for Caremark of about $26.5 billion. However, price shifts and Monday closings tweaked those offers to about $26.14 billion from CVS, and about $27.28 billion from Express Scripts.”

All that’s left are a couple more tweaks and the votes.